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Sensex up 49 pts on steady corporate earnings, global markets

PTI     October 25, 2012
The Sensex rose 49 points on Thursday supported by quarterly corporate earning results and a firm trend in global markets, amid funds settling this month's derivatives contracts.

Steady inflow of earnings by bluechips supported the BSE 30-stock index, Sensex, which closed with gains of 48.61 points, or 0.26 per cent at 18,758.63.

In all, 16 of the 30 Sensex stocks closed higher, led by auto, capital goods, banks and refinery sectors.

The NSE index, Nifty, moved between 5,718.75 and 5,685.70, before closing higher by 13.90 points, or 0.24 per cent at 5,705.30.

Brokers said the market moved in a narrow range as investors adjusted their positions on the last day of settlement in October's derivatives segment.

They said the market looked up on better earnings by companies such as Sterlite Industries, Bank of Baroda and Yes Bank, which climbed to record high following the July- September quarter.

Asian markets were strong and European equities traded higher as companies including BASF and Unilever posted bigger than expectations earnings, lifting investor sentiment in the domestic market as well, they added.

Shares of private lender Yes Bank shot up by 4.29 per cent to an all-time high of Rs 416.50 following 30 per cent growth in its net profit. Oriental Bank of Commerce gained 7.05 per cent to Rs 314.40 as company report 80 per cent jump in net profit.

Sterlite Industries rose by 1.98 per cent to Rs 100.40 after reporting a 74 per cent jump in quarterly profit.

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